An arrangement wherein an individual practice association provides medical services from physicians they have contracted with.

(i) Individual Experience rates : Actual claims experience of the concerned insured and his requirements determine the designing of the experience rates products, rates, terms and conditions. Typically insurance with a high frequency but low intensity of loss occurrence. (ii) Exposure Rated Products : Where rates, terms and conditions of cover are determined by an evaluation of the exposure to loss in respect of the risk concerned, independent of the actual claims experience of that risk. (iii) Insurance of large risks : Designed for individual large clients and where the rates, terms and conditions may be determined by reference to the international markets. As per IRDA File and use large risks are (a) Insurance for a total insured of Rs. 2,500 crores or more at one location for property insurance, material damage and business interruption combined. (b) Rs. 100 crore or more per event for liability insurance.

A retirement plan for those under the age of 70.5 (70 plus six months), which allows them to reserve up to $2,000 a year for retirement.

Any premium rating system which assigns specific premium rates to each individual insured or exposure, rather than assigning a class or manual rate. Individual rating is usually based on the class rating method, but the difference is that the premiums are adjusted according to the actual losses of the individual customers. The primary goal of individual risk rating is to price the coverage provided more accurately than if the rates were based only on manual or class rates.

A plan which modifies the premium on large package policies by considering such factors as reduced expenses for handling costs (Expense Modification) and special characteristics of the risk not contemplated by the basic rate (Risk Modification).
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A plan wherein the premium is modified.